10-25-2011- Kaperoni

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10-25-2011- Kaperoni they are ready to do this, but they want the GOI (parliament) to ok it...even though Parliament fully supports the project (and a later article told us this), they want a few other things done first such as the ISX, the Iraqi Forex, Custodian banking, and more than likely, the selling of owned businesses/companies which will open the door to the capital they mention. As well, to combat corruption, they have set up a commission to monitor exchanges. Subsequent articles have confirmed all of this. here is my opinion...It is very close to happening (by the end of the year)...take them at their word of a .86 rate.

10-25-2011- Kaperoni Here is a quote from…an older article from 9/24/2011. “announced by the Central Bank of Iraq on June 22” That is telling us, the CBI is ready to delete the 3 zeros…or in other words, change the exchange rate of the New Iraqi Dinar and start the introduction of the new lower denominations. That is the official date. another quote… “He added: When we want to buy dollars in 1200 dinars, we buy at one dinar and 200 fils," this is the initial exchange rate…like it or not, they are saying 1.2 New Iraqi Dinars to 1 Usd. That is .86 exchange rate. Or 1 million dinar =$860,000 Usd. it says they want to return the Dinar to the former value of 1 dinar to $3.33. “that aims to raise the value” That clearly tells me that the rate will not be that initially. This rate will come over time. How long I have no idea, but I would expect at least a year or more.